Odaily_ 2022-04-06 01:04:13 阅读数:296
Get rid of realistic material factors ,PoS Is the future of a decentralized world .
This article is from Bankless, Original author ：David Hoffman, from Odaily Translator of Star daily Katie Gu compiler .
This summer , Proof of work （PoW） Ethereum blockchain will be combined with the existing proof of interest （PoS） Beacon chain （Beacon chain）“ Merge ”. This upcoming network upgrade will be removed from Ethereum PoW, And guard the beacon chain at present PoS Consensus mechanism instead . This direction PoS The transformation of blockchain will be the most important in the history of blockchain network upgrading , Not just technology 、 currency , also （ On the chain ） Economic and social , And involve multi stakeholder roles . This will inevitably lead to misunderstandings 、FUD Panic and criticism .
This article will clarify four points about Ethereum PoS A common misunderstanding of , Explain why PoS The advantages of consensus mechanism are seriously underestimated .
1. Which mechanism has a fairer return on capital ? Why is this important ？
PoS Often criticized as “ Make the rich richer ” The system of , because PoS Similar to the compound interest of financial assets .“ If you have money , You earn capital faster than the poor eat soil .”
By making ETH Become a capital asset to provide network security ,PoS Programmatically guarantee the same rate of return for all shareholders . in fact , Have more ETH It won't produce a higher rate of return . contrary , stay PoW in , Having more capital does lead to higher income returns .
Take the bitcoin mine as an example , take 1 The capital of US dollars is valued from 1 The bitcoin hash rate separation of US dollars requires additional steps ： Buy hardware 、 Hardware loss 、 Electricity consumption 、 Build facilities 、 Miner cooling and so on . Each step will 1 Dollar capital and 1 The hash rate of the dollar is separated , It is the embodiment of economic scale , It also gives well capitalized groups an advantage over ordinary individuals .
By reducing these additional steps ,PoS Become the fairest consensus mechanism in the public chain .
PoS You can lie flat at home ETH, and PoW More inclined to “ Work makes you rich ”.PoW Force you to jump off the sofa , Pick up your weapon , Join the competition of economies of scale , This improves security , It also concentrates capital into a new oligopoly of network control players . This is still the competition mode of the traditional market , It will eventually lead to a structural imbalance between the elite and the public .
use PoS after , take 100 $million invested in ETH Will gain with 1000 Dollar investments have the same compound interest rate . This is the future of science fiction technology （Sci-Fi Tech） The competitive model .
however ,PoS There are also some “ Scale efficiency ”. Large verification institutions can afford more frequent transactions , So as to improve the long-term yield . As the stakes increase , The cost of monitoring validators will also increase . therefore , Having better computers and networks can be a smart investment .
2. PoW and PoS What is the type of money produced ？ Whether the consensus mechanism affects the nature of assets ？
There is a saying that , The formal link with energy consumption makes PoW Money became “ Commodity currency ”.“ Use assets to obtain equity in assets ” take PoS Money became “ Equity currency ”.
ETH It has the characteristics of similar goods , There are similar characteristics of equity . Bitcoin basically has neither . below , We can offer 5 Let's clarify this in detail .
（1） goods ：
Blockchain generated “ goods ” It's block space .
Apple selling iphone, Google sells advertising , Blockchain sells blocks . It costs money to buy transaction space on the blockchain , And you need to use the currency corresponding to each chain to buy blockspace .BTC Is the only token that can buy bitcoin block space ,ETH Is the only token that can buy Ethereum block space . This will provide a corresponding amount of money demand for the blockspace demand of each chain .
It is precisely because of the monopoly of assets on block space （ Uniqueness ）, Therefore, the characteristics of block space are injected into the nature of assets .
（2） A key difference between bitcoin and Ethereum ：
In addition to having to use BTC Buy out of bitcoin block space , There is no formal relationship between blockspace and assets . by comparison ,EIP-1559 Convert the demand for Ethereum block space into the demand for Ethereum assets .
Buying bitcoin block space will BTC Sent to miners , This BTC Finally, it was sold out in the secondary market （ To cover the cost of mining ）. And buying Ethereum block space will burn ETH（ adopt EIP-1559）, Consume it and remove it from the supply , Just like buying goods . This makes ETH It reflects the commodity value of Ethereum block space .
Because the main purpose of bitcoin is to hold BTC, Therefore, the demand for bitcoin block space is usually small . Transfer may require block space , but The value of bitcoin does not lie in the transfer of bitcoin , lie in 2100 Constant total supply of 10000 units .
（3） Equity ：
PoW Supporters tend to emphasize that PoS give ETH Equity characteristics . I do think ETH Having the characteristics of a similar interest , These mechanisms do not come from consensus .ETH The price of is formally linked to the value of Ethereum network through two mechanisms “ Equity ” Relationship ：
DeFi Demand for collateral .
（4） Pledge ：
ETH yes DeFi The original pledge .ETH The trust free attribute of is more satisfying than any other asset DeFi The needs of , This makes DeFi The growth of market scale leads to ETH Increase in value .“ Decentralized Finance ” It can also be called “ Trust free finance ”, In order to show trust free in the early stage of these financial products , Need over pledge .
With DeFi Growth in the number and utility of applications , added ETH Required as collateral .DeFi Utility translates into ETH demand , Compare the value of Ethereum network with that in the secondary market ETH Linked to the price of . Final , Ethereum's price is a measure of the value of the goods and services provided by Ethereum , It sounds like equity .
Bitcoin doesn't have hosting DeFi The power of the application , There is no such link between networks and assets .
Similar to the one mentioned earlier ETH Inject commodity attributes ,EIP-1559 Also give ETH Injected attributes similar to equity . Every application on Ethereum generates some motivation , So as to create the demand for Ethereum block space .EIP-1559 By spending... For each transaction ETH, Compare the value of economic activities with ETH Connect with needs .
by comparison , Bitcoin is not a commodity , yes 2100 Ten thousand units . It has not benefited from the growth of bitcoin network , So it's not an equity .
3. PoW And PoS Differences in governance and power ：
How consensus mechanisms affect governance structures ？ Whether the certificate of rights and interests grants the governance right to the pledgor ？
Don't confuse Ethereum's proof of interest with chain governance .
such as Tezos and Decred They are all chains with token governance on the chain ,Tezos yes PoS, Decred yes PoW/PoS Mixing . so , There is no relationship between consensus mechanism and token governance .PoW Medium “ Work ” No impact on governance PoS The big of the middle .
It's not work to remove human governance from the crypto economy system , It's cryptography . Encryption system uses encryption technology to reduce human management , Not a consensus mechanism .
Investment Strategy founder Lyn Alden Once tweeted that ：
Work is the only thing that can reduce or eliminate governance .PoW The system can be a commodity .PoS Itself is a kind of right . I like rights . But equity is not a commodity .
Invest in large-scale mining facilities , Mining at discounted prices over the next decade BTC, So you can reinvest these profits into additional mining facilities , This is not “ Work ”.
PoS Really need to work . Verifiers actually have to do real calculations to push the network forward . It's like PoW equally ,PoS Verify the of the computer CPU When dealing with transactions embedded in blockchain, it will heat and release energy . The difference is ,PoS All calculations verified are useful , Not just by generating meaningless hashes to consume more power than other calculations .
Because of its resource intensive ,PoW Received from the local government （ Such as Kazakhstan ） And the dissatisfaction of big hash operators in other fields . because PoW Rely on the supply chain 、 Architecture 、 Energy consumption and other entities , actually ,PoW Put yourself under the current world governance structure that is managing the physical world .
Crypto To build the digital world of the future , Substantiation is a disadvantage .
4. Handle 51% attack ：
PoW and PoS How to separate from 51% Resurrect with blood during attack ？
PoW Under the mechanism , Once someone has accumulated 51% The hash power of , Nothing can stop them from continuously attacking the public chain . They can attack this chain repeatedly , The goal is to make it lose its fair accounting function .
stay 51% In the case of an attack , If honest miners can't get extra hash power , Then the attacker can fully control the transaction involved .
Look again. PoS,ETH It's virtual. ASIC chip . fictitious ASIC There are some important advantages ：
（1）ETH Lower the threshold for participants to benefit .
PoW Supporters claim that , This leads to structural centralization . Because the verifier won't change , And miners need to be in hardware 、 Investment in facilities and operating costs .
PoS Supporters claim that , This gives retail investors more say , Because only those with privileged knowledge maintain the market share of computing power 、 People with political connections and a lot of capital .PoS Accepted all these challenges , And include them in ETH In the value of , Let those who can simply hold and pledge ETH People enjoy these benefits .
（2）ETH Is infinitely movable , Maximum decentralization , And there are no entities .
In the real world , Pledged ETH No entity . This makes PoS The network is more resilient to attacks .PoW Mining facilities are affected by practical factors （ army 、 The government 、 The flood ） Influence , You can't easily evacuate yourself .
（3） Ethereum vs ETH Have the ability to distinguish between good and evil .
And ASIC Chips are different ,ETH It's registered on Ethereum network . Ethereum network can identify malicious and honest stakeholders . stay PoS In attack , The attack comes from holding a specific ETH The specific address of , The ETH Used to attack the network . Everyone can see the pledged... That may attack Ethereum ETH The initial source of . therefore , Ethereum can identify the attacker's address on the chain and coordinate it at a certain block height “ Bifurcation ” Drop the attack .
here we are PoW here , Once it appears 51% attack . We need to talk to ASIC Chip manufacturers and supply chain coordination , Improve... As soon as possible ASIC Chip production , then ASIC The chip is transported to a resource capable 、 No more （ Can't ） Attack the network's bona fide mining facilities . therefore , destroy PoW 51% The attack “ Conflagration ” The time required is unknown .
In my submission , Coordinate at block height PoS Networking is better than coordinating global supply chains （ Will be new ASIC The chip is delivered to honest participants ） More easily .
It can also be seen from this extreme example , Yes PoW Who controls the chain ASIC Chip production and supply chain . Because of its relationship with power consumption , Whoever controls the real world controls PoW chain . For example, the riots in Kazakhstan at the beginning of the year , Computing power is greatly affected , Kazakhstan has deployed a high proportion of bitcoin mining machines in the world . This is a PoW Linkage with the real world .
and “ Fix ” On the Ethereum network ETH It doesn't actually exist on any particular computer . Pledge in progress ETH The verification computer can be destroyed , Pledged ETH Can be restored , And redeploy from the private key anywhere in the world .
That's why PoS Than PoW One of the reasons for more decentralization . There is no centralized supply chain , There is no concentration of economies of scale , There is no centralized large-scale mining facilities .
summary ： Don't forget the original intention —— De centralization
Some bitcoin lovers claim that bitcoin is a reconstruction of world power , Bitcoin and PoW Is the real innovation . I think anyone who puts forward this view seriously confuses the key elements of blockchain design —— De centralization .
One of my favorite criticisms of bitcoin culture is , When the base chain does not allow L1 Innovation time , It will move to the social level . and PoS It has been strictly studied and demonstrated by the frontier of encryption economics , And will go down in history as the most democratic power structure ever .
Through proof of interest （PoS）, Money and power are distributed effectively and fairly . The system is designed to achieve these goals . This is the only way to maintain Decentralization for the longest time .
Past highlights that can't be missed
High quality push brings deep thinking
to Odaily Star sign , Make you different first